23XI Racing, co-owned by basketball legend Michael Jordan and NASCAR star Denny Hamlin, is rumored to be eyeing a significant expansion by 2025.
According to NASCAR insider, Jordan Bianchi from The Athletic, the team is considering adding a third full-time car to their fleet next year. Reports suggest that this expansion plan could involve acquiring one of the rare charters that are expected to become available from the closing down Stewart-Haas Racing.
A name that has repeatedly surfaced as a potential candidate for this new spot is Riley Herbst, a 25-year-old driver who is currently in his fifth season in the Xfinity Series.
Herbst’s journey in the racing world has seen its ups and downs, but his recent performances have been nothing short of impressive. With victories secured in each of the last two years, including a noteworthy win at Indianapolis this past July, Herbst has proven his capability and resilience on the track. Additionally, he comes with the added advantage of bringing in his own sponsorship, which could alleviate some of the financial pressures associated with acquiring a charter.
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However, the expansion is surrounded by uncertainties. Recently, 23XI was one of the two teams that chose not to sign NASCAR’s new charter agreement, casting a shadow over their future operations.
This decision has significant implications for the team’s dynamics and driver contracts, particularly affecting Bubba Wallace, one of their key drivers. Expressing his frustration on the matter, Wallace noted, as quoted in the same report from The Athletic:
“My process has been going hand-in-hand with the charter agreement, so it’s frustrating to see where we’re at, because that impacts my life and livelihood and everything moving forward for my future.”
23XI Racing released the following statement during the race weekend at Atlanta Motor Speedway:
“23XI decided to not meet a NASCAR-imposed deadline last night to sign Charter agreements for its two cars for 2025-2031. 23XI’s position, as stated in a letter to NASCAR, is that we did not have an opportunity to fairly bargain for a new Charter contract.
“We notified NASCAR what issues needed to be addressed, in writing, at the deadline. We are interested in engaging in constructive discussions with NASCAR to address these issues and move forward in a way that comes to a fair resolution, while strengthening the sport we all love.
“At 23XI Racing, we remain committed to competing at the highest level while also standing firm in our belief that NASCAR should be governed by fair and equitable practices.”
